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Dec 31, 2012
12/12
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that means the u.s. could go over the fiscal cliff. on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how e major averagesr closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal cliff deadline. darren gersh has the latest. >> reporter: after a weekend of late-night negotiations with the vice presidt, senate republican leader mitch mcconnell said an agreement on the fiscal cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with mo
that means the u.s. could go over the fiscal cliff. on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how e major averagesr closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has...
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Dec 29, 2012
12/12
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shares of u.s. airways fell more than 2%. also in the airline space, the federal communications commission says it has established rules that will make it easier for companies to offer internet service on board airplanes. but shares of the major airlines were all down. electronic arts is ending its marketing partnership with gun manufacturers as the company tries to distance itself from the real-world sale of assault weapons. shares fell slightly to just below $14. and in the oil markets, crude prices posted their largest weekly gain since august. an industry report showed that u.s. stockpiles fell last week. a barrel of oil now sells for just under $91. and finally, wrapping up the most actively traded e.t.f.s. the ipath s&p 500 v.i.x. saw a nice bounce of just over 5%. and that's tonight's "market focus." >> susie: our "market monitor" tonight says that going over the fiscal cliff doesn't mean stocks will go down. he's tom herzfeld, president of thomas herzfeld advisors. >> tom you saw today thereactioe worries of the fisca
shares of u.s. airways fell more than 2%. also in the airline space, the federal communications commission says it has established rules that will make it easier for companies to offer internet service on board airplanes. but shares of the major airlines were all down. electronic arts is ending its marketing partnership with gun manufacturers as the company tries to distance itself from the real-world sale of assault weapons. shares fell slightly to just below $14. and in the oil markets, crude...
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Dec 15, 2012
12/12
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KQED
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where you sit in the u.s. with a consumer that has got five-year high of consumer confidence, we have got housing inventories that at a four-year low, housing prices up 11 percent year over year, double digit growth in autos and auto loans so to me it looks like the consumer is poised, corporations are lean on the balance sheet side, it looks like if you trigger good secular things and trajectory on the fiscal things in the u.s. you could have a heck of a second six months in 2013 in the market. >> a lot of optimism and you are playing it at a movie theaters and begins with lions gate entertainment whomplts knew you were a teenage vampire fan with the twilight movie series, the stock has done nicely this year, how much more do you see the run? >> well, i think there is more in it. you know, they not only own the twilight saga and hunger games which are begging obviously for sequels but big tv production studio as well, have mad men, weed, anger management, a lot of food renewal seasons ahead for those and lots
where you sit in the u.s. with a consumer that has got five-year high of consumer confidence, we have got housing inventories that at a four-year low, housing prices up 11 percent year over year, double digit growth in autos and auto loans so to me it looks like the consumer is poised, corporations are lean on the balance sheet side, it looks like if you trigger good secular things and trajectory on the fiscal things in the u.s. you could have a heck of a second six months in 2013 in the...
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Dec 27, 2012
12/12
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u.s. economic recovery. still ahead, the outlook for stocks in 2013, we're joined by wayne kaufman, he's the chief market analyst at john thomas financial. president obama is due back in washington tomorrow, cutting short his hawaiian holiday vacation. he will be meeting with congressional leaders for one last push to prevent the economy from falling over the fiscal cliff next week. no specific bill is on the schedule in the senate or the house, and house republicans haven't yet called their members back to washington. and hopes for a deal by the december 31 deadline are fading. darren gersh reports. >> reporter: the odds of avoiding the fiscal cliff did not get any better over the holiday. staff discussions continue, but there were few signs much, if anything has been accomplished. the house isn't even scheduled to return to washington yet, leaving it up to the senate to act. >> this is a senate that is incredibly divided, hopelessly partisan, requires 60 votes to do anything and somehow,
u.s. economic recovery. still ahead, the outlook for stocks in 2013, we're joined by wayne kaufman, he's the chief market analyst at john thomas financial. president obama is due back in washington tomorrow, cutting short his hawaiian holiday vacation. he will be meeting with congressional leaders for one last push to prevent the economy from falling over the fiscal cliff next week. no specific bill is on the schedule in the senate or the house, and house republicans haven't yet called their...
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Dec 20, 2012
12/12
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KRCB
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permits to build new homes in the u.s. shot up to more than a four-year high last month as actual home building slowed down a bit. housing srts fell 3%in november from the month before, but it has been a strong recovery, compared to a year ago, housing starts up 21.6%. the building permit, jumping 3.6% in november, up to their highest level since july 2008. martin connor is the chief financial officer, and he joins us tonight from pennsylvania. marty, welcome back to n.b.r. have you been out there increasing your building permit for next year? >> tom, it is great to be with n.b.r. i do think we are increasing our permits. we've seen dramatic creaes ur sal through the first four quarters of our year, all four quarters of our year. they went from the mid-40s to the mid-50s to the mid-60s, to 75% growth, fourth quarter over last year's fourth quarter. so we're optmatic about 2013. >> tom: your boss, the c.e.o. of tol brothers, signed a letter to president obama and john boehner, saying, quote,"failing to reach an agreement on
permits to build new homes in the u.s. shot up to more than a four-year high last month as actual home building slowed down a bit. housing srts fell 3%in november from the month before, but it has been a strong recovery, compared to a year ago, housing starts up 21.6%. the building permit, jumping 3.6% in november, up to their highest level since july 2008. martin connor is the chief financial officer, and he joins us tonight from pennsylvania. marty, welcome back to n.b.r. have you been out...
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Dec 27, 2012
12/12
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u.s. economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues. many consumers hit the malls today to return gifts and buy what they really wanted. and this is the time many gift cards get redeemed. but for retailers, holiday sales so far have been a flop. sales in the two months leading up to christmas, rose just 0.7%, according to mastercard advisors that tracks the numbers. that's way below what the retail industry was predicting. erika miller spoke with retail expert dana telsey and began by asking what happened. >> i think there were a confluence of events, extra long season. hurricane sandy. tragedy in ct. >> none of the events out there were feel good factor events. it was all for consumer morale. >> when you look at the weakness this holiday season, how much of the blame do you put on retailers for not having inspiring merchandise and how much of it are just factors beyond their
u.s. economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues. many consumers hit the malls today to return gifts and buy what they really wanted. and this is the time many gift cards get redeemed. but for retailers, holiday sales so far have been a flop. sales in the two months leading up to christmas, rose just 0.7%, according to mastercard advisors that tracks the numbers....
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Dec 11, 2012
12/12
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. >> reporter: the tree is up on wall and broad, and so is the u.s. stock market. the holiday season typically is a good time for stocks. in fact, since 1950, december has been the best month of the year for the s&p 500 with the index gaining an average of 1.7%. this december is off to a good start, even though the fiscal cliff looms large over trading floors. most investors remain optimistic there will be a deal in washington before santa arrives. but floor broker teddy weisberg isn't sure where all the optimism is coming from. >> it's a real dilemma here because a lot of folks that i talk to, and customers and professionals alike, are very, very nervous. and i think they are perplexed by the lack of weakness in the market, if you will. >> reporter: economists say no deal between lawmakers and the white house by new year's could push the u.s. into recession by early next year. that dire prediction should be bad news for stocks, but investors remain unfazed. experts say stocks are more likely to move in a tight trading range in the next few weeks. >> if it does get
. >> reporter: the tree is up on wall and broad, and so is the u.s. stock market. the holiday season typically is a good time for stocks. in fact, since 1950, december has been the best month of the year for the s&p 500 with the index gaining an average of 1.7%. this december is off to a good start, even though the fiscal cliff looms large over trading floors. most investors remain optimistic there will be a deal in washington before santa arrives. but floor broker teddy weisberg...
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Dec 8, 2012
12/12
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u.s. and british regulators still have to approve the deal. two years ago google offered six billion to buy daily deal website group-on before it went public. group-on's market value is half that tonight and bloomberg reports there's take-over speculation. the stock jumped 23% today. volume more than doubled. some of the buying also could be from traders who sold short the stock to profit as it was falling. four of the top five most actively traded exchange traded products were higher. the lone hold-out was the nasdaq 100 tracking fund, which includes apple. the fund was down 0.06%. and that's tonight's "market focus." tall tom dow growth is one reason tonight's market monitor thinks the economy will pick up speed next year and so will stocks. mark luschini back with us at janney montgomery scott. the job market we saw today improving in the last month but still slow, do you think it's going to pick up the pace of that improvement next year and why. >> well we do, tom. the fact of the matter is we've been seeing steady spectacular job growth f
u.s. and british regulators still have to approve the deal. two years ago google offered six billion to buy daily deal website group-on before it went public. group-on's market value is half that tonight and bloomberg reports there's take-over speculation. the stock jumped 23% today. volume more than doubled. some of the buying also could be from traders who sold short the stock to profit as it was falling. four of the top five most actively traded exchange traded products were higher. the lone...
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Dec 6, 2012
12/12
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but what the u.s. oil and natural gas assets bring to the table, in addition to commodities, is well outside freport's existing portfolio of business, is a reduced level of country risk, especially compared to what you undertake when you do business in indonesia or the d.r.c. >> tom: just a half minute left, and i want to ask you about the stock for freport mac moran, how should long-term investors take a look at this? >> well, long-term investors that had been sitting in freport original need to ask themselves are you really interested in this oil and gas story. because you need to remember investors to have undertaken this deal on their own. they didn't need freporto go out and lever up and pay a 39% premium for planes. >> tom: dan, do you own freport? >> i do not. >> tom: daniel rohr with us, he is with morningstar. >> reporter: i'm erika miller in new york. tomorrow, we'll talk to the c.e.o. of kitchen chain sur la table and hear his outlook for holiday spending. >> susie: finally, we want to remin
but what the u.s. oil and natural gas assets bring to the table, in addition to commodities, is well outside freport's existing portfolio of business, is a reduced level of country risk, especially compared to what you undertake when you do business in indonesia or the d.r.c. >> tom: just a half minute left, and i want to ask you about the stock for freport mac moran, how should long-term investors take a look at this? >> well, long-term investors that had been sitting in freport...
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Dec 14, 2012
12/12
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and today, the u.s. immigration and customs enforcement agency has signed on to a pilot testing program for the device. maybe it's customers stocking up on their holiday ales. boston beer raised its profit look for the year late yesterday, leading to a rally today. boston beer's best known brew is sam adams. shares jumped 15.5%, shooting up to an all-time high. credit for the better forecast goes to the timing of certain expenses. all the five most actively traded exchange traded products were down. the nasdaq 100 tracking fund had the biggest drop, down eight tenths of a percent. and that's tonight's "market focus." >> susie: fiscal cliff negotiations going into the 11th hour, how will that affect the outlook for next year. we'll ask b.m.o asset management's sandy lincoln. he's this week's "market monitor" guest. and why a new program to help student loan borrowers could mean a big win for high earners with graduate degrees. >> its medical marijuana business is a $2 billion a year industry already. it's
and today, the u.s. immigration and customs enforcement agency has signed on to a pilot testing program for the device. maybe it's customers stocking up on their holiday ales. boston beer raised its profit look for the year late yesterday, leading to a rally today. boston beer's best known brew is sam adams. shares jumped 15.5%, shooting up to an all-time high. credit for the better forecast goes to the timing of certain expenses. all the five most actively traded exchange traded products were...
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Dec 20, 2012
12/12
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>> tom: unr the threat of ar white house veto, the u.s. house of representatives is expected to vote tomorrow on the republican plan-b to avoid the fiscal cliff. house speaker john boehner thinks the house will okay the package, trying to turn the heat up on president obama to steer clear of automatic tax hikes and government spending cuts due to take affect in 12 days. still, as darren gersh reports, there are some signs the two sides are narrowing their differences. >> reporter: house republicans say they're still working on plan a: a big agreement with the president to cut spending and raise revenues, but they were pushing plan b today-- a tax hike for those making more than a million dollars. >> tomorrow the house will pass legislation to make permane tax relief for nearly every american. 99.81% of the american people. then the president will have a decision to make. he can call on the senate democrats to pass that bill or he can be responsible for the largest tax increase in american history. >> reporter: hours befe thee speaker issue
>> tom: unr the threat of ar white house veto, the u.s. house of representatives is expected to vote tomorrow on the republican plan-b to avoid the fiscal cliff. house speaker john boehner thinks the house will okay the package, trying to turn the heat up on president obama to steer clear of automatic tax hikes and government spending cuts due to take affect in 12 days. still, as darren gersh reports, there are some signs the two sides are narrowing their differences. >> reporter:...
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Dec 18, 2012
12/12
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the organization figures the u.s. economy will grow 2.1%, driven by housing and construction, but with corporate profit growth slowing down. nayantara hensel is the chairman of the national association for business economics. not bad, moderate, stable but certainly not robust here s it? >> no, that's absolutely right, tom. basically again we're forecasting annual average real gdp growth at 2.1% but the goodews is we expect it to accelerate during the course of the year, perhaps reach being 3% by the fourth quarter of 2014. >> tom: what is going to add to that growth considering, is it being held back in the first six months because of the uncertainty over the fiscal cliff? >> absolutely. in fact, if you take a look at the panelist forecast on a quarterly basis they suggest real gdp growth will be 1.8% in the first quarter of 2013 but will jump by the second quarter of 2013 to about 2.4%. i think some of that is definitely being held back by a lot of the concerns that resolution i imrtan of the tax and the spending pla
the organization figures the u.s. economy will grow 2.1%, driven by housing and construction, but with corporate profit growth slowing down. nayantara hensel is the chairman of the national association for business economics. not bad, moderate, stable but certainly not robust here s it? >> no, that's absolutely right, tom. basically again we're forecasting annual average real gdp growth at 2.1% but the goodews is we expect it to accelerate during the course of the year, perhaps reach...
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Dec 28, 2012
12/12
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the indian government looking into whether wal-mart's lobbying activities in the u.s. violated indian laws. shares of wal-mart closed fractionally higher. smith and wesson is buying back an additional $15 million worth of stock, on top of the $20 million repurchase program it recently completed. smith and wesson's shares have fallen nearly 10% since the newtown connecticut shootings. investors bought up gold today, as a safe place to park money while washington lawmakers spar over the fiscal cliff. the precious metal settled $3 hier at $1,663 an ounce. gold prices are on pace for an annual rise of about 6%, the smallest annual gain since 2008. and, supply concerns pushed palladium prices to a nine-month high. investors are worried that tight supplies from the world's top two producers and steady demand from the auto sector could mean higher prices in 2013. it settled at $708 an ounce: over the past year the metal has rising about 7.5%. and finally, for the second day in row the ishares emerging market e.t.f. ended higher. and that's tonight's "market focus." >> susie:
the indian government looking into whether wal-mart's lobbying activities in the u.s. violated indian laws. shares of wal-mart closed fractionally higher. smith and wesson is buying back an additional $15 million worth of stock, on top of the $20 million repurchase program it recently completed. smith and wesson's shares have fallen nearly 10% since the newtown connecticut shootings. investors bought up gold today, as a safe place to park money while washington lawmakers spar over the fiscal...
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Dec 7, 2012
12/12
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WMPT
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apple didn't say where in the u.s. the line of mac computers would be built or how many jobs might be included. now the return of apple to u.s. manufacturing comes as shareholders have experienced a very rocky ride in the past few months. the stock is down 22% from its all-time high in september. suzanne pratt reports. rtses. >> reporter: a peak inside this manhattan apple store and it looks like everything is a-okay. plenty of customer, plenty of purchases. so why has the shine come off apple's shares? with a-- in a word, actually two, profit-taking. >> i think the biggest reason for the selling going back to when it was priced $700 in september is pure profit-taking. if you look from the beginning year to september, the stock was up 74%. so i think you had some natural profit-taking. >> reporter: but this isn't ode year-end selling by institutions looking to record nice numbers. this supposedly is fiscal cliff related selling as shareholders worries that capital gains tax rates will be higher next year. >> still, fin
apple didn't say where in the u.s. the line of mac computers would be built or how many jobs might be included. now the return of apple to u.s. manufacturing comes as shareholders have experienced a very rocky ride in the past few months. the stock is down 22% from its all-time high in september. suzanne pratt reports. rtses. >> reporter: a peak inside this manhattan apple store and it looks like everything is a-okay. plenty of customer, plenty of purchases. so why has the shine come off...
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Dec 19, 2012
12/12
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the giant drug maker plans to cut about 20% of its u.s. sales force, or 600 jobs. according to a report from bloomberg, the cuts begin this month and are said to be part of c.e.o. ian read's strategy to reposition pfizer after losing patent protection on its top selling drug, lipitor. at its peak, that cholesterol drug generated revenues of nearly $10 billion a year for pfizer. while lipitor's loss was tough for pfizer, it was a boon for generic drug makers. but in the coming year, far fewer brand-name drugs will come off patent. and as ruben ramirez reports, generic drug makers have been preparing for the slowdown. >> reporter: 2012 has been a boon for generic drug makers as 40 brand name drugs lost their patent protection, opening the door to what amounted to around $35 billion in sales. 2013 will be a different story, with only about half as many drugs scheduled to lose their patent protections. lipitor, pfizer's blockbuster cholesterol drug, was the biggest seller to lose patent protection this year. >> there are still individual product opportunities in 2013,
the giant drug maker plans to cut about 20% of its u.s. sales force, or 600 jobs. according to a report from bloomberg, the cuts begin this month and are said to be part of c.e.o. ian read's strategy to reposition pfizer after losing patent protection on its top selling drug, lipitor. at its peak, that cholesterol drug generated revenues of nearly $10 billion a year for pfizer. while lipitor's loss was tough for pfizer, it was a boon for generic drug makers. but in the coming year, far fewer...
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Dec 12, 2012
12/12
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u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box company is using them to reinvent itself. >> susie: that and more tonight on nbr! >> tom: an agreement to ease the fiscal cliff may not be wrapped up and waiting under your tree for christmas. senate majority leader harry reid said today it would be hard to get an agreement finished by the holiday, blaming the delay on republicans. not surprisingly, republicans say the president hasn't gotten serious about the talks. plenty of outside groups are offering up suggestions. and as darren gersh reports, they include warren buffett and some other big names in finance. >> reporter: there was some
u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box company is using them to reinvent itself. >> susie: that and more tonight...
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Dec 12, 2012
12/12
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u.s. economy. the big question is whether the fed will stick with its so- called "operation twist" bond- buying program, or will it announce something new? erika miller takes a closer look at what's expected. >> reporter: the fed may announce a new twist in its bond buying plans, but that doesn't necessarily mean the stock market will shout. at it's final meeting of the year, the central bank is not expected to simply extend its operation twist program. that's the nickname for the fed's strategy of buying long- term treasuries and, at the same time, selling an equal amount of shorter-dated bonds. that's important because it keeps the bank's balance sheet the same size. now, the fed may be ready to do a new stimulus dance. >> under twist, they've been purchasing $45 billion longer term treasuries while at the same time selling $45 billion short term. they've pretty much run out of short-term stuff to sell, so i think they'll be continuing to purchase the long term, but purchasing outright,
u.s. economy. the big question is whether the fed will stick with its so- called "operation twist" bond- buying program, or will it announce something new? erika miller takes a closer look at what's expected. >> reporter: the fed may announce a new twist in its bond buying plans, but that doesn't necessarily mean the stock market will shout. at it's final meeting of the year, the central bank is not expected to simply extend its operation twist program. that's the nickname for...